November 3, 2010 – (RealEstateRama) — Missouri Housing Development Commission (MHDC), which administers the Missouri Housing Trust Fund (MHTF), has received applications from agencies in the latest funding round in excess of $16 million. The agencies have requested MHTF monies for a variety of housing needs, including assistance to homeless shelters, providing rent subsidies and funds for emergency home repairs, and the construction and rehabilitation of low-income rental housing. $3.7 million in funding is available for allocation.
Because the Missouri Housing Trust Fund is supported by a statutorily authorized user fee of three dollars on all real estate documents recorded in the state of Missouri, the annual funding level depends on the amount of real estate activity in any given year. With the current depressed housing market in which fewer homes are being sold, the MHTF is experiencing lower funding amounts. “The money we receive from the Missouri Housing Trust Fund is imperative in the fight against homelessness,” said Heather Bradley-Geary, MHDC’s Community Initiatives Manager. “Sadly, because of the current economic climate, we are seeing an increased need for emergency housing assistance while fewer funds are available to support those needs.”
All MHTF monies must be used for the assistance of persons at or below 50 percent of the area median income, with half of the monies to be used for the benefit of persons with incomes at or below 25 percent of the area median income. In addition, in its review of MHTF assistance applications, MHDC will give special consideration to those proposals targeted toward homeless persons (defined as individuals lacking a fixed, regular and adequate nighttime residence).
In addition to administering the Missouri Housing Trust Fund, MHDC provides financing for the construction and rehabilitation of affordable housing in Missouri, as well as the administration of low-interest mortgage loan programs for first-time homebuyers.
Andi Benson, communications administrator
816.759.6658 or 816.516.0148
Kansas City, MO 64111